- Paxful CEO Ray Youssef accuses Binance of planting faux FUD about Palestinian accounts.
- Youssef claims that Binance helps Israel by freezing Palestinian accounts on the request of the IDF.
- Binance CEO Richard Teng denies the allegations.
Trade Binance is underneath fireplace for allegedly freezing Palestinian accounts on the request of Israeli authorities. Paxful CEO Ray Youssef accused Binance of spreading misinformation to cowl up its involvement.
The controversy began after Binance was accused of suspending Palestinian accounts. Polish entrepreneur Adrian Zduńczyk alerted the neighborhood to potential foul play by rivals providing $20,000 to unfold Binance FUD.
Binance responded by acknowledging the competitors within the crypto house and urging customers to do their very own analysis. Nonetheless, Youssef rejected Binance's rationalization and accused them of spreading false data to guard themselves.
“It's actually disgusting and out of the CIA and Mossad playbook. Binance Planting Faux FUD to Shield Itself,”
Youssef accused Binance of aiding Israel within the ongoing Israeli-Palestinian battle. In keeping with Paxful's CEO, the alternate suspended Palestinian accounts on the request of the Israel Protection Forces.
Youssef shared a letter in Hebrew from Paul Landes, head of Israel's Nationwide Counter-Terrorism Financing Authority, with a translation. The letter rejects an attraction in opposition to the asset seizure order dated November 1, 2023, and states that the funds have been transferred from the Dubai Inventory Trade within the Gaza Strip to crypto wallets, together with these of the beneficiaries. In keeping with the letter, the Dubai Trade Firm was designated as a terrorist group in 2022.
The Paxful boss additionally posted a clip purportedly displaying a message from Binance customer support confirming the freezing of Palestinian belongings ordered by Israeli legislation enforcement. Binance CEO Richard Teng denied the allegations and stated that solely a restricted variety of consumer accounts related to illicit funds had been blocked. He accused the information of spreading concern, uncertainty and doubt (FUD).
Binance has a historical past of working with Israeli authorities within the struggle in opposition to terrorism. Nonetheless, the present allegations might immediate customers to hunt extra decentralized platforms.
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